Rahul Bajaj is a renowned Indian businessman who heads the Bajaj Group, a conglomerate with interests in various industries. He took over leadership of Bajaj Auto in 1965 and transformed it into one of India's most successful companies. Throughout his career, Rahul Bajaj has received numerous awards and honors for his business achievements and contributions to the Indian economy.
A PPT on Godrej Family talking about the inception of the company and it's progress ever since then. This PPT also comprises it's SWOT analysis along with Porter's Five Forces Model
A PPT on Godrej Family talking about the inception of the company and it's progress ever since then. This PPT also comprises it's SWOT analysis along with Porter's Five Forces Model
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
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Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
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2. INTRODUCTION
Mr. Bajaj ( June 10, 38) is recognized as one of the most successful
business leaders of India. He heads the Bajaj Group of Companies
which is a leader in a variety of manufactured products and financial
services in India and abroad including motorized 2 and 3-wheelers,
home appliances, electric lamps, wind energy, special alloy and
stainless steel, cranes, forgings, infrastructure development, material
handling equipment, travel, general and life insurance and
investment, consumer finance & asset management.
3. AWARDS AND ACHIEVEMENTS
In 1975, he received the "Man of the Year" award from National Institute of Quality
Assurance
Business India honoured him as “Businessman of the year 1985”.
Bombay Management Association rewarded him for his service in the field of
Management, in 1990.
On behalf of the French President Nicolas Sarkozy, the French Ambassador Mr.Jerome
Bonn font presented the honour of “Knight in the Order of the Legion of Honour” to the
CEO of Bajaj Auto, Rahul Bajaj. The French have numerous divisions in the Order and the
title awarded to Rahul Bajaj is of the highest distinction.
Rahul Bajaj Chairman, of Bajaj Auto Limited was conferred the Alumni Achievement
Award by the Harvard Business School (HBS) from where he did his MBA in 1964,
He was listed twentieth on the Forbes "India's richest 40" list of people with a net worth of
US$1.1 Billion
For his contribution to Indian industry, he was awarded the nation's third-highest civilian
honour, the Padma Bhushan, in 2001. He was elected to the Upper House of Parliament
(Rajya Sabha)(2006-10)
Economic Times and Ernst & Young bestowed their "lifetime achievement" awards on him
in November 2004.
Rani Durgavati University conferred the degree of Doctor of Letters (Honoris Causa) in
March 2005.
6. HERIDITY
"Given my family background, I knew I wanted to be a businessman by the
time I was about 12," says Bajaj. His grandfather had bought a steel mill
and started a sugar mill, and in 1945 his father founded Bajaj Auto, now
the crown jewel in the Bajaj Group, which numbers almost thirty
companies in a variety of industries. Due to such environment prevailing
around, his mind was into business since the childhood days.
He grew up in an environment when the Indian freedom struggle was at
its fiery heights. The Bajaj family was truly nationalistic. Rahul's father
and uncle were involved in the freedom struggle, and had also been jailed
briefly by the British Colonials for their patriotic fervour. Rahul's father
served as a three time Member of Parliament under the Congress
government. This is the reason he is not afraid of taking the risks. He is
outspoken, confident and a man of his words
Jamnalal Bajaj was the firm believer in M.K Gandhi and so is Rahul Bajaj.
He is high on ethics as it is evident from fact that he has never bribed any
official or has stolen any of the other company’s project.
7. SITUATION
In the 1970s, India was a socialist state barred by rules and regulations. As a result, there
was no entrepreneurship and nothing could be done without government approval. At this
difficult time Bajaj became the CEO of Bajaj Auto Ltd in 1968. In this environment, the
company was limited to produce just 20,000 units a year. Supply and demand didn't
match. Hence, after placing their order, customers had to wait for roughly ten years to
receive it.
To lower costs while improving the price and quality of the products, he increased
production to avail “Economies of Scale”. He ignored a government regulation and
increased volume by more than the permitted 25 prevent of his licensed capacity.
He was appointed Chairman of Indian Airlines in 1984. This was the first instance when
someone from the private sector had been given this responsibility.
The initiation of Liberalization in India by the then PM Rajiv Gandhi posed great challenges
for Bajaj Auto. It brought the threat of cheap imports and FDI from top companies like
Hero Honda. Rahul Bajaj became famous as the head of the “Bombay Club”, which
opposed this liberalization. Rahul Bajaj’s company was rock-solid and he didn’t feel
threatened to join hands with a rag-tag band of men with completely different corporate
cultures and ethics but for Bajaj, the issues were simple. He felt that the government had
not allowed Indian industry to function freely for decades. When opening up the economy
and laying out the red carpet to foreigners, it owed Indian industry the chance to put its
house in order before forcing it to compete against global giants.
8. SITUATION
The slump in the sale of scooters and the downfall of the stock market of 2001 hit the
company hard. It was forecast by some business analysts that Bajaj industries would have
to shut down soon. But without losing hope Rahul Bajaj with his business expertise re-
established the battered company. He established another factory in Chakan, invested in
R&D and came up with Bajaj Pulsar Motorcycle. Bajaj Pulsar is presently a leader in its
sector.
Rahul Bajaj took over the charge of Bajaj Group in 1965, under his leadership Bajaj Auto
has grown to new heights year after year. The turnover of Bajaj Auto has risen from a
mere Rs.72 million to Rs.46.16 billion. He created one of India's best companies in the
difficult days of the license-permit raj.
Rahul’s pet project - The Bajaj “Chetak” scooter was a huge success story. In 1980 with
some relaxation in LCV’s company’s started entering Indian markets through joint
ventures. Rahul had foreseen this, and had gone in for a massive appointment of new
dealers throughout the country. He also initiated advertising campaigns to improve the
brand recall in the minds of the customer.. His efforts paid off, and Rahul had ensured that
Bajaj retained its top spot in the scooter industry in India.
He had his share of low points in his life. His parting with the Firodia's and the Italian
automobile major Piaggio left a bad taste. Rahul's spat with the Indira Gandhi
Government made the company suffered as they were not allowed to expand their
facilities to keep up with the growing demand. The Union related problem at his factory,
which turned violent, raised a few eyebrows on the Bajaj Management. In the '80s;
analysts criticized him for sticking to his knitting rather than diversifying, and for
preferring to pay hefty taxes rather than taking advantage of dubious tax loopholes.
9. ENVIRONMENT
Rahul Bajaj went to The Cathedral and John Conon School. He graduated from St.
Stephen's College in Delhi in 1958 with an honour’s degree in economics. Back in
Bombay, Bajaj did a two-year stint at Bajaj Electricals, clocking in after morning
lectures at the Government Law College. He spent most of 1961-62 as a junior
purchase officer at Mukand and with some work experience under his belt, he left
for Harvard Business School in USA.
He joined Bajaj Auto as Deputy General Manager, in charge of the Commercial
function of the company. Rahul was made to involve himself in almost all
departments in the company including key departments in the company like
Marketing, Accounts, Purchase, and Audit etc. except manufacturing. The
company was gaining prominence as the two-wheeler market had begun to
expand exponentially.
Under the guidance of Naval K Firodia, the Chief Executive of Bajaj Auto, Rahul
began to learn the nuances of the business.
11. SOCIAL ASSERTIVENESS
High Score- Uninhibited, Bold
Low Score- Shy, Withdrawn
Rahul Bajaj Is high on this factorBecause as seen in the
incident of breaking the rule of the limited production of
scooters he increased the production without any one’s
permission. Therefore we can say that his nature is very bold
and inhibited as he is very resilient and gutsy.
His statements about the kingfisher airlines, and Rajat Gupta
shows his high social assertiveness.
12. WARMTH
High Score- Supportive, Comforting
Low Score- Cold, Selfish
Rahul Bajaj has been high on this factor as his speeches he
clearly mentions his views about the Indian economy and his
concern towards the citizens of his country and he also came into
politics to serve the people of the nation. And he also makes his
employees feel very comfortable while he talks to them.
At the time when Bajaj scooters were selling at a waiting period
of ten years and were being sold at double the price in the black
market he thought for the citizens of the country and did not
increased the price of vehicle even the ball was in his court.
Rather he decided to increase the production to double and he
was even ready to go to jail for doubling the production.
13. INTELLECT
• High Score- Analytical, Cerebral
• Low Score- Instinctive, Unstable
• According to his interview all his decisions are thoroughly analysed
and are properly pertained to his brain due to which Bajaj Auto the
4th largest two wheeler manufacturer of the world. And when asked
about getting into the four wheeler market he just said that for
getting into such competitive market you have to attain at least the
2nd position in the two wheeler market.
• According to Bajaj "If Bajaj Auto cannot be a world player in its
field, I do not deserve the right to diversify. You should diversify
from a position of strength, not from a position of weakness.”
14. EMOTIONAL STABILITY
High Score- Calm, Level Headed
Low Score- Irritable, Moody
Rahul Bajaj is moderate on this factor as seen in his interview
with Karan Thappar he was easily irritated when the conversation
got too personal and direct; but in other interviews he was found
very calm and quiet when answering the questions.
Rahul Bajaj is very short Tempered when it comes to his own
ethics but he is also very patient at times when it comes to taking
serious decisions.
15. INTROVERSION
High Score- Private, Quiet
Low Score- Open, Friendly
Rahul Bajaj is low on this factor as seen in his many interviews
and speeches he is found to be very open and friendly and has
portrayed himself as what he is from inside is from outside.
The editor of Business Standard T.N. Ninan has mentioned that
"He uses a hundred words when ten would do."
17. ABOUT THE BIG 5 PERSONALITY
TEST
In psychology, the Big Five personality traits are five broad
domains or dimensions of personality that are used to describe
human personality. The theory based on the Big Five factors is
called the Five Factor Model (FFM)
The Big Five framework of personality traits from Costa & McCrae,
1992 emerged as a robust model for understanding the
relationship between personality and various academic
behaviors. The Big Five factors are:
Openness (inventive/curious vs. consistent/cautious)
Conscientiousness (efficient/organized vs. easy-going/careless)
Extraversion (outgoing/energetic vs. solitary/reserved)
Agreeableness (friendly/compassionate vs. cold/unkind)
Neuroticism (sensitive/nervous vs. secure/confident)
18. EXTRAVERSION
• High- Open and friendly
• Low- Quiet and private
• Rahul Bajaj is high on extraversion as he is outgoing, talkative and
sociable.
• We can see this as Rahul Bajaj openly speaks about what is on his
mind. For example, when Vijay Malaya asked for government
support when Kingfisher was going down, Rahul Bajaj openly
spoke against it.
• Also, Rahul Bajaj openly voiced his opinion about being happy
about Rajat Gupta getting a lenient jail sentence.
• He was also openly against liberalization in India.
19. AGREEABLENESS
• High- Empathetic friendly and helpful
• low-- Manipulative and self-centred
• Rahul Bajaj is moderate on agreeableness. He is very helpful as
can be seen in the numerous corporate social responsibly
initiatives that Bajaj auto has taken and also,
• Rahul Bajaj is always very concerned about his employees.
• But, even though he listens to his subordinates, the final decision
is always his.
20. CONSCIENTIOUSNESS
High: Hardworking and reliable
Low: less goal oriented and laid-back
Rahul Bajaj is high on conscientiousness as it can be seen by the
success of the company. From just a scooter manufacturing
company Rahul Bajaj has diversified the company into
automobiles, electrical, insurance ,travel and finance.
Rahul Bajaj took over the charge of Bajaj Group in 1965, under his
leadership Bajaj Auto has grown to new heights year after year.
The turnover of Bajaj Auto has risen from a mere Rs.72 million to
Rs.46.16 billion
21. EMOTIONAL STABILITY
• High- Level Headed and Calm
• Low- Moody and Irritable
• He has moderate emotional stability.
• Sometimes he gets very emotional looking at people's problems
but other times, he does not move an inch.
• He lost control of his emotions as shown in Karan Thapar's
interview in his show devil’s advocate.
22. OPENNESS TO EXPERIENCE
High- Imaginative, sensitive, intellectual
Low- Incomprehensible
Rahul Bajaj is high on this factor as can be seen that when foreign
companies came in and the stock market collapsed in 2001, But
without losing hope Rahul Bajaj with his business expertise re-
established the battered company. He established another factory
in Chakan, invested in R&D and came up with Bajaj Pulsar
Motorcycle. Bajaj Pulsar is presently a leader in its sector.
23. MAJOR PERSONALITY ATTRIBUTES
AFFECTING OB
Locus of Control
Machiavellianism
Self-Esteem
Self-Monitoring
Risk Taking
Type A and Type B Personalities
24. LOCUS OF CONTROL
• The degree to which people believe they are in control of their
own fate.
– Internals:Individuals who believe that they control what happens to them
– Externals:Individuals who believe that what happens to them is controlled
by outside forces such as luck or chance.
• I am a believer. I firmly believe that God exists — but I do not make a show of
this belief. I do not pray at temples, I do not follow rituals. But I do pray a lot
although I do not have a fixed time or place to pray.-RAHUL BAJAJ
• I belong to a deeply religious family, so I have no reason not to believe in God. I
also believe in karma and the doctrine that man makes his own destiny. My
karma will determine my future.
• Also in his interview at CNBC , he blamed Government and entry of other
companies for his company’s downfall in late 1990’s
• Thus Rahul Bajaj is an external person.
25. MACHIAVELLANISM
Degree to which an individual is pragmatic, maintains emotional
distance, and believes that ends can justify means. .
People high on this factor tend to be rash decision makers and would
not give a thought on how their decisions would affect others.
Such individuals may some times not take decisions within the
framework of the organization.
• Rahul Bajaj is high on this factor. He made a rash decision to
increase the production in 1967 when the government didn’t allow
him to increase it. Without giving a second thought that he could
be jailed. But he too takes his own decisions on his own with
feedback from employees.
• Also he didn’t diverse in other fields in 1980s due to which he was
criticized.
26. SELF-ESTEEM
Individuals’ degree of liking or disliking of themselves.
People with lower self esteem generally lack self confidence.
High on self esteem tends to make a person goal oriented and
achievement oriented.
Rahul Bajaj is high on this factor as he is a goal oriented person and
high on confidence. He is a person who has the ability to call a
spade a spade. He is outspoken. He turned the Profits of the
company from Rs.72 million to Rs.46.16 billion today.He is
extremely goal oriented and achievement oriented. He made an
excellent company during license raj.
27. SELF MONITORING
A personality trait that measures an individual’s ability to
adjust behaviour to external situational factors.
People high on this personality trait would adjust themselves
quickly to external environment. These people can control their
emotions quickly.
Rahul Bajaj was moderate on this factor. He strongly opposed
FDI in 1991 because he knew that it would bring in cheaper
imports of raw materials and there might be chances that his
company wouldn’t survive. When he saw scooters coming into
the market in 80s he became aggressive on his marketing
strategies. Handed over the company to his Son when he felt
that he won’t be able to compete in motorcycle market.
28. RISK TAKING
Refers to a person’s willingness to take chances or risks
Also refers to some levels of decision making. Whether he / she is
decisive or need external help for their decision making.
He was high on this factor as he took the risk of increasing the
production even though the government didn’t permit it. He was
decisive in nature as he took the decisions on his own. After the
heart attack he started delegating his work to the senior officials
of the company.
29. TYPE A PERSONALITY
• The theory describes a Type A individual as ambitious,
rigidly organized, highly status conscious, can be sensitive, care
for other people, are truthful, impatient, always try to help
others, take on more than they can handle, want other people to
get to the point, proactive, and obsessed with time management.
People with Type A personalities are often high-achieving
"workaholics" who multi-task, push themselves with deadlines,
and hate both delays and ambivalence.
• Rahul Bajaj is a Type A personality as it is seen in his interviews
that he measured his success in terms of numbers.
• Unlike others he spend his leisure time with the employees
children in his factory premises.
• He is a workaholic as he took the break of merely 4 days between
1964-1984
32. Extraversion V/S Introversion
He is an extrovert. Entrepreneurs are not known for their sharp
tongues. But Rahul Bajaj is. When wielded, sharp tongues may cut
down profits and invite victimization from the government. He is
very brazen and outspoken about his views. He is bold and
aggressive when it comes to express them.
Bajaj likes to do things his own way. He has no inhibitions, when it
comes to speaking his mind, and he does that remarkably loudly
and defiantly. This characteristic made Rahul Bajaj famous as the
head of the Bombay Club that vehemently opposed liberalization in
the Nineties.
Bajaj was never shy of announcing his friendship or special
relationship with Sharad Pawar, though the latter has lot many
political foes in Delhi’s political circles.
He chose to strike rapport with his 20,000-odd employees, basically
with his personal equation and talking to them. At the factory, he is
not a tight-lipped, inscrutable boss, but more an intimate friend,
who talks directly. This style of openness and cordiality, he believes,
enhances productivity, quality and smoother functioning.
33. Sensing V/S Intuitive
• Sensing :
• The past few generations of successful Indian businessmen did not
have formal education. They were more known for native wisdom
and robust common sense. They sensed the changing directions of the
blowing wind and adjusted accordingly to make the best of the
change for their businesses and personal fortunes.
• Rahul Bajaj had formal education in business administration at the
world renowned Harvard University. Though he inherited the
common sense of the business family, his was a more scientific
approach towards management. He relied on gathering data, making
surveys and studying the projections of the economy.
• When economic liberalization became a reality in India and rival Hero
Honda made him bite the dust, Rahul Bajaj thought of recovering
from the paralyzing blow by setting up altogether a new world-class
factory in Chakan, near Pune, invested heavily in the R&D and came
back to the market with Bajaj Pulsar Motorcycle. Bajaj Pulsar is a big
hit and currently a leader in the two-wheeler segment.
• A scientific management approach made this possible, not intuition.
34. Thinking V/S Feeling
• Rahul Bajaj cannot exactly be described as a person, who was always
right or who was not sentimental. He was sentimentally attached to the
License & Permit Raj. He had acquired an expertise on how to function in
that system. Rather he had become a bit inert in the protected
atmosphere. When the liberalization came in the Ninties, he opposed it
and spoke on behalf of the regressive elements in the industry. Also, he
escaped logic. He thought liberalization was reversible. He was rather
sentimental.
• But soon reasoning prevailed over him. He fell in line. He toed the line of
healthy competition and innovation. He went to create a market leader
Bajaj Pulsar two-wheeler, braving a break-neck competition.
• When he took over the reins of Bajaj Group in 1965, the turn over was
just Rs.72 million. Now it has crossed Rs.46 billion.
• Now the Bajaj Group has diversified interests ranging from automobiles,
home appliances, lighting, iron and steel, insurance, travel and finance.
35. Judging V/S Perceiving
• Rahul Bajaj changed his style of decision making, when he took
over his family business, the Bajaj group, in mid-Sixties.
• It was Rahul’s grandfather Jamnalal Bajaj, who had launched the
Bajaj Group. Jamanalalji was a close associate of Mahatma
Gandhi and had an unwavering loyalty to the Gandhian principles.
Rahul’s father, Kamalnayan Bajaj, served as a Congress MP for
three-times. The whole family was honed in the Gandhian
ambience.
• Rahul had to survive and grow in the ruthlessly negative ambience
of the License & Permit Raj that was marked by red-tapism,
favoritism and corruption. It was urgent and must for him to
remould his style. He did it.
• Rahul Bajaj created one of India's best companies in those difficult
days, when ‘entrepreneurship’ and ‘profits’ were considered to be
‘dirty words’.
36. ESTJ
ESTJs are hardworking traditionalists, eager to take charge in organizing
projects and people. Orderly and rule-abiding, ESTJs like to get things
done, and tend to go about projects in a systematic, methodical way. They
value factual evidence over conjecture, and trust their personal
experience. ESTJs are the consummate organizers, and want to bring
structure to their surroundings. They value predictability and prefer things
to proceed in a logical order. If chaos is present, the ESTJ often takes the
initiative to establish processes and guidelines, so that everyone knows
what's expected. The ESTJ wants to achieve efficient productivity and
typically believes this is best accomplished when people and systems are
well organized. ESTJs are usually outgoing and enjoy upholding family and
cultural traditions. They concern themselves with maintaining the social
order and keeping others in line. ESTJs often take on a project manager
role at home as well as at work, and excel at setting goals, making
decisions, and organizing resources to accomplish a task.
37. BLAKE & MOUTON’S
MANAGERIAL GRID
The Blake and Mouton managerial grid uses two axis.
Concern for people is plotted against the y axis
Concern for work/production is plotted against the x axis.
Each axis ranges from 1(low) to 9(high).
39. LEADERSHIP STYLES
• The impoverished style (1,1)- In this style, managers have low concern for both
people and production. Managers use this style to preserve job and job seniority,
protecting themselves by avoiding getting into trouble.
• The country club style (1,9)- This style has a high concern for people and a low
concern for production. Managers using this style pay much attention to the
security and comfort of the employees, in hopes that this will increase
performance.
• The produce or perish style (9,1)-With a high concern for production, and a low
concern for people. Managers using this style pressure their employees through
rules and punishments to achieve the company goal. This style is often used in
cases of crisis management.
• The team style (9,9)- In this style, high concern is paid both to people and
production. As suggested by the propositions of Theory Y, managers choosing to
use this style encourage teamwork and commitment among employees. This
method relies heavily on making employees feel themselves to be constructive
parts of the company.
• Middle of the road style (5,5)- Managers using this style try to balance between
company goals and workers needs. By giving some concern to both people and
production, managers who use this style hope to achieve suitable performance
but doing so gives away a bit of each concern so that neither production nor
people needs are met.
41. CONCERN FOR PEOPLE
On personal front, he is more a human than a businessman. He is very
liberal to his employees and gives them lot of independence and room
to learn, create and innovate while at work. This makes his employees
involved and interested in working in an open and friendly
environment, which is not possible by coercion. This shows his empathy
towards employees and his relationship with them.
As a great strategist and business analyst, Rahul Bajaj visualized the
necessity of safe and hazel free transport availability, for the average
Indian household. He played key role in the design and development of
Bajaj Chetak scooters in India. This shows his concern towards common-
man.
On the contrary, to the new leadership practices, Bajaj never believed
in delegating authority to all. He always keeps himself at the helm of
things. He gave a patient hearing to all others ideas. However, the final
decision was made at his discretion.
42. CONCERN FOR WORK
Rahul Bajaj has established Bajaj Group as top player in India with his
tremendous efforts and seamless hard work.
He is exhaustively workaholic and never likes to take a break. In twenty years of
long stretch from 1965-1984, he took a leave of just 4 days. This would probably
be the reason why Bajaj Group emerged as a company of excellence with smooth
and friction free operations. Between 1978 and 1981, Bajaj Auto's export sales
jumped from Rs63.5m to Rs133.2m. A euphoric Bajaj even ran a campaign in Time
magazine, perhaps the first Indian advertiser to do so.
Under the helm of Rahul, Bajaj Group has diversified into various business
verticals ranging from automobiles, home appliances, lighting, iron and steel,
insurance, travel and finance; serving needs of all categories of consumers. Rahul
Bajaj applied his cross-pollinated ideas on the growth of the company and turned
it around from a company of Rs.72 million to Rs.46.16 billion. This was possible
by striking decisiveness and assertiveness of Rahul Bajaj even at turbulent times
and his great business acumen.
In 2001, recession and collapse of stock markets hardly hit the sales of scooters.
Some business analysts even forecasted that there was every possibility that Bajaj
Autos would shut down. However, Rahul Bajaj with high determination and great
perseverance; reinvented the company.
43. CONCLUSION
Rahul Bajaj Is a leader who led from the front, with his actions proving so. His thinking
and taking decisions based on honesty has always paid off. For e.g., after the workers
strike in 1979, there has been no other strike at the pune plant because they reached a
consensus which was a win for both Bajaj and the workers.
Rahul Bajaj has always stayed true to his words. When he says something, he sticks by it.
He is not fickle minded. We can learn to be honest and truthful. Bajaj has never bribed
anyone in his life. He did not give any bureaucrat a single penny to secure licenses.
Rahul Bajaj was also very hardworking and knows every part of the company as at the
beginning of his career, he worked in almost all departments of the Bajaj business.
Bajaj knows how to handle difficult situations in a good manner. When liberalization
happened and competitors like Honda came in, Rahul Bajaj increased his advertising and
his R&D expenditure to ensure that his products are not inferior to his competition. Also,
He made it through the parting with firodias and piaggio and is still a very big name
today.
Bajaj also knew what was the right thing to do when. When he was not getting licenses
to produce more vehicles, even though there was a lot of demand, he did not exploit the
situation and charge a higher price. Instead, he found ways to produce more.
Lastly, it is the passion of Rahul Bajaj for his company that inspires us. He led a scooter
manufacturing company to where it is today and the fact that he lives in his factory
grounds even though he could afford a sprawling mansion, proves how much he loves his
work.